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Prospect Global Resources Announces Pricing of Common Stock Offering



     Prospect Global Resources Announces Pricing of Common Stock Offering

PR Newswire

DENVER, Nov. 8, 2012

DENVER, Nov. 8, 2012 /PRNewswire/ -- Prospect Global Resources, Inc. (NASDAQ:
PGRX) announced today that it has priced an offering of 15,000,000 shares of
its common stock to the public at $1.75 per share. The gross proceeds to the
Company from the offering are expected to be $26,250,000 million, and the net
proceeds are expected to be approximately $24,295,000 million, after deducting
underwriting discounts and commissions and other estimated offering expenses. 
The underwriters will have a 30-day option to purchase up to an additional 15%
of the offered amount of common stock from the Company at the offering price,
less underwriters' discounts and commissions, solely to cover overallotments.
  

The closing of the offering is expected to take place on or about November 14,
2012, subject to the satisfaction of customary closing conditions.

The Company intends to use the net proceeds from this offering (i) to finance
the final step in preparation for a final bankable feasibility study due in
the first half of 2013, including an in-field drilling program, (ii) to fund a
portion of debt payments due to The Karlsson Group Inc. in connection with the
closing of the Company's acquisition of The Karlsson Group Inc.'s 50% interest
in American West Potash LLC, and (iii) for mine planning, permitting,
engineering activities, an environmental study, and general corporate
purposes.

Dahlman Rose & Company, LLC, and Macquarie Capital (USA) Inc. are acting as
joint book-running managers for the offering. Roth Capital Partners, LLC and
Sterne, Agee & Leach, Inc. are acting as joint lead managers. 

The offering is being made by way of a shelf registration statement which has
been declared effective by the Securities and Exchange Commission ("SEC").  A
copy of the prospectus supplement incorporating the base shelf prospectus
relating to the offering may be obtained by contacting the underwriters (at
the addresses below) or by accessing the SEC website, www.sec.gov.

Dahlman Rose & Company, LLC
Attn: Prospectus Dept.
1301 Avenue of the Americas, 44th Floor
New York, NY 10019
Phone: 212-702-4521
Fax: 212-920-2952
Email: prospectus@drco.com

Macquarie Capital (USA) Inc.
Attn: Prospectus Dept.
125 West 55th Street, 22nd Floor
New York, NY 10019
Phone: 888-268-3937
Fax: 212-231-1717
Email: us.prospectus@macquarie.com

This news release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state
or jurisdiction in which the offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such
state or jurisdiction. The securities being offered have not been approved or
disapproved by any regulatory authority, nor has any such authority passed
upon the accuracy or adequacy of the preliminary prospectus supplement, the
base prospectus or the Company's shelf registration statement. A registration
statement relating to the securities has been filed with the SEC and became
effective May 25, 2012. A preliminary prospectus supplement relating to the
offering has been filed with the SEC.

With the exception of historical matters, the matters discussed in this press
release include forward-looking statements that involve risks and
uncertainties that could cause actual results to differ materially from
projections or estimates contained herein. Such forward-looking statements
include statements regarding future sales of common stock and the use of
proceeds from such sales. Factors that could cause actual results to differ
materially from projections or estimates include, among others, potash prices,
economic and market conditions, as well as the additional risks described in
our filings with the SEC, including our Annual Report on Form 10-K for the
year ended March 31, 2012, as amended. Most of these factors are beyond the
Company's ability to predict or control. The forward looking statements are
made as of the date hereof and, except as required under applicable securities
legislation, the Company does not assume any obligation to update any
forward-looking statements. Readers are cautioned not to put undue reliance on
forward-looking statements.

About Prospect Global Resources, Inc. (PGRX):
Prospect Global Resources, Inc. is a Denver-based company engaged in the
exploration and development of a large, high-quality potash deposit located in
the Holbrook Basin of eastern Arizona.

SOURCE Prospect Global Resources, Inc.

Contact: Thomas Mulligan, Sitrick And Company, +1-212-573-6100
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